|Bid||0.00 x 1200|
|Ask||0.00 x 900|
|Day's Range||115.00 - 126.85|
|52 Week Range||103.00 - 233.48|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||9.81|
|Earnings Date||Jul 23, 2020 - Jul 27, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||240.50|
Rating Action: Moody's assigns Baa1 ratings to Raytheon Technologies' new senior unsecured notes; ratings on review for upgrade. Global Credit Research- 14 May 2020. New York, May 14, 2020-- Moody's Investors ...
The best defense stocks have long-term programs as well as footholds in key emerging priorities for the Pentagon and U.S. allies.
Raytheon Technologies was formed after the merger of Raytheon and United Technologies' aviation businesses and it trades under a new ticker.
Raytheon Technologies Corp.'s CEO is voluntarily reducing his pay as the company will temporarily cut pay for all salaried employees and put some workers in furlough programs to cope with reduced customer demand as a result of the COVID-19 pandemic. In a message to Raytheon (NYSE: RTX) employees dated April 14 and posted on the company’s website, CEO Greg Hayes said he was voluntarily cutting his pay by 20% while salaried employees’ pay across Raytheon’s corporate offices will be temporarily reduced by 10%. Additionally, Hayes said hourly employees at the company’s Pratt & Whitney and Collins Aerospace businesses will take part in furlough programs.
Details are sparse, with the White House saying the groups are meant “to chart the path forward toward a future of unparalleled American prosperity" in the wake of the coronavirus outbreak.
The City of McKinney and Raytheon reached an economic incentive agreement for a new manufacturing facility after months of negotiations.
Raytheon Technologies debuted on the Dow Jones Industrial Average Friday after the closing of its massive merger.
A mega-merger almost a year in the making is now complete. Defense contractor Raytheon Corp. finalized its merger with United Technologies Corp. Friday to officially form Raytheon Technologies Corp. (NYSE: RTX), per a filing with the Securities and Exchange Commission. The deal, which had been in the works since the companies announced their proposed “merger of equals” in June, creates one of the world's largest aerospace and defense companies with 195,000 employees and roughly $74 billion in 2019 net sales.
This is day one of trading for a vastly changed company - Raytheon - now merged with United Technologies to form Raytheon Technologies.
Raytheon Technologies Corporation (NYSE: RTX) announced the successful completion of the all-stock merger of equals transaction between Raytheon Company and United Technologies Corporation on April 3, 2020, following the completion by United Technologies of its previously announced spin-offs of its Carrier and Otis businesses. Headquartered in Waltham, Mass., Raytheon Technologies is one of the largest aerospace and defense companies in the world with approximately $74 billion in pro forma 2019 net sales and a global team of 195,000 employees, including 60,000 engineers and scientists.
A major U.S. defense contractor has landed a $146 million Navy deal that will provide work for two of its local offices, including one south of Dayton.
GE closed the sale of its biopharma division to Danaher on Tuesday. United Technologies will complete its merger with Raytheon on Friday.
Retailer Macy's Inc. (NYSE: M) will be removed from the S&P 500 Index later this week, S&P Dow Jones Indices announced late Tuesday.What Happened The Cincinnati-based company will instead become a part of the S&P SmallCap 600 Index on Friday."Macy's has a market capitalization more representative of the small-cap market space," S&P Dow Jones Indices said in a statement. The retailer's stock is down 70.6% year-till-date and has been reduced to a market cap of $1.5 billion.United Technologies Corp. (NYSE: UTX), which is merging with Raytheon Co. (NYSE: RTN) to form a new entity Raytheon Technologies Corp. (NYSE: RTX), will remain a part of both S&P 500 and S&P 100 under its new name.The conglomerate's spinoffs Carrier Global Corp. (NYSE: CARR) and Otis Worldwide Corp. (NYSE: OTIS) will both become a part of the S&P 500 index as well, replacing Macy's and Raytheon Co.The novel coronavirus (COVID-19) pandemic has significantly impacted the business of retailers, including Macy's. The company on Monday announced it would furlough a majority of its employees as its stores across the United States remain shut, and sales have dropped drastically.Price Action Macy's shares closed 8.57% lower at $4.91 on Tuesday and traded another 1.43% lower at $4.84 in the after-hours market.Photo Credit: Paulo JC Nogueira via Wikimedia.See more from Benzinga * Van Gogh Painting Stolen On His Birthday As Museum Closed Due To Coronavirus * Cronos Group Reports Earnings Beat, Misses Revenue Estimates For Q4 * Zoom Shares Drop As New York Attorney General Looks Into Company's Privacy, Security Practices(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Standard General, the hedge fund battling for board seats at Tegna Inc, called on the U.S. regional TV station operator on Tuesday to open its books to two bidders still interested in acquiring the company amid the coronavirus crisis. Tegna said on Sunday that turbulent market conditions, driven by the coronavirus pandemic, had weighed on its negotiations with potential acquirers. It said two remaining bidders had not signed confidentiality agreements to enable due diligence, and had not delivered any information on financing sources.